India's Top Bank Avoids Russian Oil Payments Despite U.S. Sanctions Waiver

AI Briefing

• – India's State Bank of India continues to avoid processing Russian oil payments despite a US waiver, citing risk to reputation and exposure to the US.
• – The waiver is currently only for one month, leaving SBI uncertain about its long-term implications.
• – The bank seeks to protect its large exposure to the US as it navigates the situation.